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CONSOLIDATED STATEMENTS OF CASH FLOWS (EUR €)
In Thousands, unless otherwise specified
12 Months Ended 284 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Cash Flows from Operating Activities      
Net income (loss) € 6,003 € (6,111) € (64,165)
Adjustments to reconcile net loss to net cash used in operating activities      
Change in the fair value of acquisition-related contingent consideration (6,297) 780 (3,314)
Depreciation 20 22 826
Amortization of intangibles 0 0 481
Impairment of license contract 0 0 2,213
Goodwill impairment 0 0 209
Fees paid in warrants 0 0 223
Gain on sales of equipment 0 0 (69)
Gain on extinguishment of debt 0 0 (774)
Services and fees paid in common stock 0 0 5,403
Stock compensation expense-options 71 32 427
Amortization of debt discount 0 0 1,410
Induced conversion cost 0 0 807
Warrant modification cost 0 0 484
Changes in operating assets and liabilities      
Receivables (3,669) 18 (3,642)
Accounts payable (467) 298 1,439
Other (5) 2 (12)
Net cash used in operating activities (4,344) (4,959) (58,054)
Cash Flows from Investing Activities      
Patents and other 0 0 (393)
Proceeds from sale of equipment 0 0 137
Purchase of property and equipment (109) (1) (390)
Acquisition of subsidiary, net of cash acquired of E58 0 0 (4,942)
Cash acquired in reverse purchase 0 0 13
Net cash used in investing activities (109) (1) (5,575)
Cash Flows from Financing Activities      
Proceeds from exercise of common stock options 45 0 45
Proceeds from the issuance of common stock and warrants 0 0 11,630
Borrowings from shareholders 0 0 972
Increase in notes payable and other short-term advances 5,551 4,846 53,349
Decrease in notes payable and other short-term advances (1,151) 0 (2,641)
Loan fees 0 0 (130)
Net cash provided by financing activities 4,445 4,846 63,225
Effect of foreign exchange rate on cash 19 18 701
Net increase (decrease) in cash 11 (96) 297
Cash, beginning of period 286 382 0
Cash, end of period 297 286 297
Non-cash investing and financing activities      
Issuance of shares on conversion of notes payable 0 1,165  
Supplemental Disclosure of Cash Flow Information      
Cash paid for interest € 151 € 511